It looks like one thing on my exchange traded fund (ETF) wish list for 2008 is closer to coming true.
An Oklahoma City securities firm has plans to launch an ETF made up exclusively of stocks issued by state-based publicly traded companies, reports Don Mecoy of NewsOK. The fund would need to gather about $10 million in holdings to be successful, says the president of Capital West Securities, the firm that will launch the ETF.
Right now, Capital West is putting together a five-year record of how the fund would have performed and is working to develop a registration.
Meanwhile, StateShares also has 21 state-specific ETFs in registration with the Securities and Exchange Commission.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.